The RealReal Cash Flow Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	-41.8	-134.2	-168.47	-196.45	-236.11
Depreciation & Amortization	33	33.1	31.7	27.67	23.53
Other Amortization	2.21	2.13	2.57	2.37	13.99
Loss (Gain) From Sale of Assets	-	-	-	-	0.55
Asset Writedown & Restructuring Costs	-	-	39.74	-	-
Stock-Based Compensation	28.94	29.08	34.27	46.14	48.8
Provision & Write-off of Bad Debts	2.61	2.5	1.96	1.68	1.03
Other Operating Activities	21.31	91.41	26.01	24.38	20.91
Change in Accounts Receivable	-12.47	0.77	-6.98	-6.12	-1.59
Change in Inventory	-9.47	-3.68	10.94	23.97	-29.2
Change in Accounts Payable	1.61	0.91	-0.43	4.95	-9.99
Change in Other Net Operating Assets	11.07	4.84	-32.58	-20.15	25.93
Operating Cash Flow	37.01	26.85	-61.27	-91.56	-142.15
Operating Cash Flow Growth	37.86%	-	-	-	-
Capital Expenditures	-18.64	-14.25	-29.18	-22.86	-37.47
Sale (Purchase) of Intangibles	-12.89	-11.8	-12.95	-14.06	-9.97
Investment in Securities	-	-	-	-	4
Other Investing Activities	2.31	0.46	-	-	-
Investing Cash Flow	-29.22	-25.59	-42.13	-36.92	-43.44
Long-Term Debt Issued	-	-	-	-	278.23
Long-Term Debt Repaid	-26.75	-	-	-	-
Net Debt Issued (Repaid)	-26.75	-	-	-	278.23
Issuance of Common Stock	2.68	1.79	0.91	4.31	8.35
Repurchase of Common Stock	-0.16	-1.65	-0.68	-0.21	-0.01
Other Financing Activities	-4.64	-4.9	-	-	-33.67
Financing Cash Flow	-28.87	-4.76	0.23	4.1	252.91
Net Cash Flow	-21.08	-3.5	-103.17	-124.38	67.33
Free Cash Flow	18.37	12.6	-90.45	-114.42	-179.62
Free Cash Flow Growth	45.78%	-	-	-	-
Free Cash Flow Margin	2.65%	2.10%	-16.46%	-18.96%	-38.41%
Free Cash Flow Per Share	0.16	0.12	-0.89	-1.19	-1.97
Cash Interest Paid	-	10.68	8.13	8.1	6.58
Cash Income Tax Paid	-	0.2	0.23	0.26	0.09
Levered Free Cash Flow	-3.99	19.91	-56.79	-46.15	-95.64
Unlevered Free Cash Flow	11.12	31.15	-52.67	-41.98	-96.17
Change in Working Capital	-9.26	2.84	-29.05	2.65	-14.86

Updated Feb 26, 2026. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

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